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proposal　was　approved　of　by　the　council。

　　　　　As　long　as　the　whole　or　the　far　greater　part　of　the　gold；

which　the　first　adventurers　imported　into　Europe；　was　got　by　so

very　easy　a　method　as　the　plundering　of　the　defenceless　natives；

it　was　not　perhaps　very　difficult　to　pay　even　this　heavy　tax。　But

when　the　natives　were　once　fairly　stripped　of　all　that　they　had；

which；　in　St。　Domingo；　and　in　all　the　other　countries　discovered

by　Columbus；　was　done　completely　in　six　or　eight　years；　and　when

in　order　to　find　more　it　had　become　necessary　to　dig　for　it　in

the　mines；　there　was　no　longer　any　possibility　of　paying　this

tax。　The　rigorous　exaction　of　it；　accordingly；　first　occasioned；

it　is　said；　the　total　abandoning　of　the　mines　of　St。　Domingo；

which　have　never　been　wrought　since。　It　was　soon　reduced

therefore　to　a　third；　then　to　a　fifth；　afterwards　to　a　tenth；　and

at　last　to　a　twentieth　part　of　the　gross　produce　of　the　gold

mines。　The　tax　upon　silver　continued　for　a　long　time　to　be　a

fifth　of　the　gross　produce。　It　was　reduced　to　a　tenth　only　in　the

course　of　the　present　century。　But　the　first　adventurers　do　not

appear　to　have　been　much　interested　about　silver。　Nothing　less

precious　than　gold　seemed　worthy　of　their　attention。

　　　　　All　the　other　enterprises　of　the　Spaniards　in　the　new　world；

subsequent　to　those　of　Columbus；　seem　to　have　been　prompted　by

the　same　motive。　It　was　the　sacred　thirst　of　gold　that　carried

Oieda；　Nicuessa；　and　Vasco　Nugnes　de　Balboa；　to　the　Isthmus　of

Darien；　that　carried　Cortez　to　Mexico；　and　Almagro　and　Pizzarro

to　Chili　and　Peru。　When　those　adventurers　arrived　upon　any

unknown　coast；　their　first　inquiry　was　always　if　there　was　any

gold　to　be　found　there；　and　according　to　the　information　which

they　received　concerning　this　particular；　they　determined　either

to　quit　the　country　or　to　settle　in　it。

　　　　　Of　all　those　expensive　and　uncertain　projects；　however；

which　bring　bankruptcy　upon　the　greater　part　of　the　people　who

engage　in　them；　there　is　none　perhaps　more　ruinous　than　the

search　after　new　silver　and　gold　mines。　It　is　perhaps　the　most

disadvantageous　lottery　in　the　world；　or　the　one　in　which　the

gain　of　those　who　draw　the　prizes　bears　the　least　proportion　to

the　loss　of　those　who　draw　the　blanks：　for　though　the　prizes　are

few　and　the　blanks　many；　the　common　price　of　a　ticket　is　the

whole　fortune　of　a　very　rich　man。　Projects　of　mining；　instead　of

replacing　the　capital　employed　in　them；　together　with　the

ordinary　profits　of　stock；　commonly　absorb　both　capital　and

profit。　They　are　the　projects；　therefore；　to　which　of　all　others

a　prudent　lawgiver；　who　desired　to　increase　the　capital　of　his

nation；　would　least　choose　to　give　any　extraordinary

encouragement；　or　to　turn　towards　them　a　greater　share　of　that

capital　than　that　would　go　to　them　of　its　own　accord。　Such　in

reality　is　the　absurd　confidence　which　almost　all　men　have　in

their　own　good　fortune　that；　wherever　there　is　the　least

probability　of　success；　too　great　a　share　of　it　is　apt　to　go　to

them　of　its　own　accord。

　　　　　But　though　the　judgment　of　sober　reason　and　experience

concerning　such　projects　has　always　been　extremely　unfavourable；

that　of　human　avidity　has　commonly　been　quite　otherwise。　The　same

passion　which　has　suggested　to　so　many　people　the　absurd　idea　of

the　philosopher's　stone；　has　suggested　to　others　the　equally

absurd　one　of　immense　rich　mines　of　gold　and　silver。　They　did　not

consider　that　the　value　of　those　metals　has；　in　all　ages　and

nations；　arisen　chiefly　from　their　scarcity；　and　that　their

scarcity　has　arisen　from　the　very　small　quantities　of　them　which

nature　has　anywhere　deposited　in　one　place；　from　the　hard　and

intractable　substances　with　which　she　has　almost　everywhere

surrounded　those　small　quantities；　and　consequently　from　the

labour　and　expense　which　are　everywhere　necessary　in　order　to

penetrate　to　and　get　at　them。　They　flattered　themselves　that

veins　of　those　metals　might　in　many　places　be　found　as　large　and

as　abundant　as　those　which　are　commonly　found　of　lead；　or　copper；

or　tin；　or　iron。　The　dream　of　Sir　Walter　Raleigh　concerning　the

golden　city　and　country　of　Eldorado；　may　satisfy　us　that　even

wise　men　are　not　always　exempt　from　such　strange　delusions。　More

than　a　hundred　years　after　the　death　of　that　great　man；　the

Jesuit　Gumila　was　still　convinced　of　the　reality　of　that

wonderful　country；　and　expressed　with　great　warmth；　and　I　dare　to

say　with　great　sincerity；　how　happy　he　should　be　to　carry　the

light　of　the　gospel　to　a　people　who　could　so　well　reward　the

pious　labours　of　their　missionary。

　　　　　In　the　countries　first　discovered　by　the　Spaniards；　no　gold

or　silver　mines　are　at　present　known　which　are　supposed　to　be

worth　the　working。　The　quantities　of　those　metals　which　the　first

adventurers　are　said　to　have　found　there　had　probably　been　very

much　magnified；　as　well　as　the　fertility　of　the　mines　which　were

wrought　immediately　after　the　first　discovery。　What　those

adventurers　were　reported　to　have　found；　however；　was　sufficient

to　inflame　the　avidity　of　all　their　countrymen。　Every　Spaniard

who　sailed　to　America　expected　to　find　an　Eldorado。　Fortune；　too；

did　upon　this　what　she　has　done　upon　very　few　other　occasions。

She　realized　in　some　measure　the　extravagant　hopes　of　her

votaries；　and　in　the　discovery　and　conquest　of　Mexico　and　Peru

（of　which　the　one　happened　about　thirty；　the　other　about　forty

years　after　the　first　expedition　of　Columbus）；　she　presented　them

with　something　not　very　unlike　that　profusion　of　the　precious

metals　which　they　sought　for。

　　　　　A　project　of　commerce　to　the　East　Indies；　therefore；　gave

occasion　to　the　first　discovery　of　the　West。　A　project　of

conquest　gave　occasion　to　all　the　establishments　of　the　Spaniards

in　those　newly　discovered　countries。　The　motive　which　excited

them　to　this　conquest　was　a　project　of　gold　and　silver　mines；　and

a　course　of　accidents；　which　no　human　wisdom　could　foresee；

rendered　this　project　much　more　successful　than　the　undertakers

had　any　reasonable　grounds　for　expecting。

　　　　　The　first　adventurers　of　all　the　other　nations　of　Europe　who

attempted　to　make　settlements　in　America　were　animated　by　the

like　chimerical　views；　but　they　were　not　equally　successful。　It

was　more　than　a　hundred　years　after　the　first　settlement　of　the

Brazils　before　any　silver；　gold；　or　diamond　mines　were　discovered

there。　In　the　English；　French；　Dutch；　and　Danish　colonies；　none

have　ever　yet　been　discovered；　at　least　none　that　are　at　present

supposed　to　be　worth　the　working。　The　first　English　settlers　in

North　America；　however；　offered　a　fifth　of　all　the　gold　and

silver　which　should　be　found　there　to　the　king；　as　a　motive　for

granting　them　their　patents。　In　the　patents　to　Sir　Walter

Raleigh；　to　the　London　and　Plymouth　Companies；　to　the　Council　of

Plymouth；　etc。；　this　fifth　was　accordingly　reserved　to　the　crown。

To　the　expectation　of　finding　gold　and　silver　mines；　those　first

settlers；　too；　joined　that　of　discovering　a　northwest　passage　to

the　East　Indies。　They　have　hitherto　been　disappointed　in　both。

　　　　　　　　　　　　　　　　　　　　　　　　　　　　PART　2

　　　　　　　　　　　　　Causes　of　Prosperity　of　New　Colonies　

　　　　　THE　colony　of　a　civilised　nation　which　takes　possession

either　of　a　waste　country；　or　of　one　so　thinly　inhabited　that　the

natives　easily　give　place　to　the　new　settlers；　advances　more

rapidly　to　wealth　and　greatness　than　any　other　human　society。

　　　　　The　colonists　carry　out　with　them　a　knowledge　of　agriculture

and　of　other　useful　arts　superior　to　what　can　grow　up　of　its　own

accord　in　the　course　of　many　centuries　among　savage　and　barbarous

nations。　They　carry　out　with　them；　too；　the　habit　of

subordination；　some　notion　of　the　regular　government　which　takes

place　in　their　own　country；　of　the　system　of　laws　which　support

it；　and　of　a　regular　administration　of　justice；　and　they

naturally　establish　something　of　the　same　kind　in　the　new

settlement。　But　among　savage　and　barbarous　nations；　the　natural

progress　of　law　and　government　is　still　slower　than　the　natural

progress　of　arts；　after　law　and　government　have　been　go　far

established　as　is　necessary　for　their　protection。　Every　colonist

gets　more　land　than　he　can　possibly　cultivate。　He　has　no　rent；

and　scarce　any　taxes　to　pay。　No　landlord　shares　with　him　in　its

produce；　and　the　share　of　the　sovereign　is　commonly　but　a　trifle。

He　has　every　motive　to　render　as　great　as　possible　a　produce；

which　is　thus　to　be　almost　entirely　his　own。　But　his　land　is

commonly　so　extensive　that；　with　all　his　own　industry；　and　with

all　the　industry　of　other　people　whom　he　can　get　to　employ；　he

can　seldom　make　it　produce　the　tenth　part　of　what　it　is　capable

of　producing。　He　is　eager；　therefore；　to　collect　labourers　from

all　quarters；　and　to　reward　them　with　the　most　liberal　wages。　But

those　liberal　wages；　joined　to　the　plenty　and　cheapness　of　land；

soon　make　those　labourers　leave　him；　in　order　to　become　landlords

themselves；　and　to　reward；　with　equal　liberality；　other

labourers；　who　soon　leave　them　for　the　same　reason　that　t